Industrial sector production accelerates 5.4%
(VOV) -Overall industrial production in the first four months of the year expanded by 5.4% year-on-year, concurrent with a 13.9% jump in inventory indices, according to the General Statistics Office of Vietnam (GSO).
The growth in the processing and manufacturing industry was 7.4%, 9.6 % for electricity production and distribution, and 5.4 % for water supply and wastewater treatment.
Mineral exploitation experienced an overall decline of 2% year-on-year.
Some sectors having high index of industrial production (IIP) included garments and textiles, leather production, electronics, computers, optics, and machinery manufacturing.
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Meanwhile, there was a decline in IIP of some sectors- pharmaceuticals, drug, crude oil and gas exploitation, tobacco production, coal exploitation.
Inventory index of the processing and manufacturing industry shot-up 13.9% against same period last year’s figure, showing that industrial production still faces difficulties in production consumption. Average inventory rate of the sector in the first quarter of this year was a whopping 80.7%.
Employment rates at industrial businesses rose by 4.5% from last year’s same period, of which the State-owned enterprises fell by 1.6%, non-state sector went up 4% and foreign direct investment (FDI) sector up 7%.